TOSCANA ENERGY ANNOUNCES DIRECTOR APPOINTMENT

Calgary, Alberta, July 18, 2018– Toscana Energy Income Corporation (“Toscana”) (TSX: TEI) today announces that Mr. Stanley Smith has been appointed to the Board of Directors effective July 18, 2018 and has also been appointed as Chair of the Audit Committee of Toscana.

Mr. Smith is a designated accountant with over 39 years of public accountant experience. Mr. Smith’s focus of practice was public company auditing and advising, primarily in the oil and gas exploration, production and service industry. After retirement from KPMG LLP on September 30, 2016, Mr. Smith has been acting as an independent businessman. Mr. Smith is a director of Razor Energy Corp., Touchstone Exploration Inc. and was a director of Savanna Energy Services Corp. (“Savanna”), a drilling and oilfield services company, from April 2017 until Savanna was acquired by Total Energy Services Inc. in June 2017. Mr. Smith is a member of the Chartered Professional Accountants of Alberta and Institute of Corporate Directors.

We look forward to the contributions that Mr. Smith will make to our Board of Directors and to the ongoing success of Toscana.

About Toscana Energy Income Corporation

Toscana Energy is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.